Business

An ecosystem around family offices grows

Family offices are opening up. Those running then are increasingly willing to share knowledge and expertise in order for them to improve their own practices, says Citi Private Bank, which is releasing a series of papers on best practices for family offices.

Stephen Campbell, chairman of Citi Private Bank’s global family office group, reckons family offices, despite their opaqueness, want to open up and share knowledge about the sector much more than they did in the past.

“The family office industry, which manages several trillion dollars of assets worldwide, is often opaque, with very little publicly available information,” says Campbell. “Family office executives frequently find themselves constrained by this.” But this is changing, he says, with more executives seeking insight from their colleagues at other family offices.

Family offices are certainly becoming more sophisticated, as Edward Marshall, a director in the bank’s global family office group, says. And that is driving the thirst for more knowledge about their industry.

“Because of the resources that are available to these families in terms of expertise, the calibre of professionals that are interested in working for family offices, the growing support networks, and increasing collaboration among family office individuals, you’re starting to see them become more sophisticated more quickly than in the pasts,” he says.

In order to meet demand for knowledge, Citi is releasing a series of thought leadership pieces on topics of importance to family offices. These include papers on: ‘Why family offices are increasingly relying upon bespoke remuneration packages to attract top executive talent, which often go beyond financial incentives’, and, ‘The costs of creating and running a family office, and assessing value-for-money’.

The bank is particularly interested in working with the executives who run these family offices. Two years ago, Citi began a leadership conference for family office executives, which attracted more than 100 family-office managers. That even has now gone global as well as to other cities in the US, says Marshall.

Subscribe

You will need a Premium Plus Subscription to access this database.

Exclusive news, analysis and research on global family enterprise and private investment offices.

Access to the most comprehensive fully interactive database on global family offices, principal investment offices, and family enterprises.

Check Deal Data, Senior Staff, and New Analysis on more than 500 family/principal investment and holding groups

Already have an account? Login

Subscribe

You need at least a Premium Subscription to read this article.

The most comprehensive information service on the global family enterprise world, featuring exclusive news, analysis, research and data on global family enterprises, family offices, and private investment offices.

Premium

£ 299

Annually

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
Subscribe now

Premium Plus

£ 399

Annually

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 500 detailed profiles of family investment groups

More Info

Subscribe Now

Already have an account? Login

Subscribe

Exclusive news, analysis and research on global family enterprise and private investment offices.

Membership

Free

  • Exclusive reports, analysis and commentary
Sign up

Premium

£ 299

Annually

  • Exclusive reports, analysis and commentary
  • Exclusive access to family/private investment office deal information
  • Exclusive interviews with principals and senior management of family/investment offices
Subscribe now

Premium Plus

£ 399

Annually

  • Access to All of Premium
  • Access to all of FamilyCapital Analytics, our interactive database with more than 500 detailed profiles of family investment groups

More Info

Subscribe Now

Already have an account? Login

Leave a Reply